The Texas Guaranteed Student Loan Corporation (TG) was created in 1979
(House Bill 38, 66th Texas Legislature, Regular Session) as a public, nonprofit
corporation to administer the Guaranteed Student Loan Program (later known as
the Federal Family Education Loan Program). Although created by the Texas
Legislature and subject to legislative oversight, TG is not a state agency and
receives no state funds.

In the words of the TG website, "FFELP loans
are made through a public/private partnership involving borrowers, schools,
lenders, TG, and the federal government. Under the program, schools determine
students' and parents' eligibility for loans. Private lenders (such as local
banks or credit unions) provide the money for the loans. TG reviews loan
applications and guarantees the loans. The federal government subsidizes and
reinsures the loans. And the borrower pays back the loans." As the
administrator of the loan program, the Texas Guaranteed Student Loan
Corporation "guarantees repayment of student loans to
private lenders in the event a borrower dies, becomes permanently and totally
disabled, has a loan discharged in bankruptcy, or defaults. TG also checks
student loan applications for eligibility, monitors loan status, pays claims to
lenders if necessary, and conducts compliance reviews of schools participating
in the program. In addition, the Corporation shares information about the
program with students and schools."

The Corporation is governed by an 11-member Board of Directors.
Originally (1979-1989), this consisted of eight appointed by the Governor of
Texas with the advice and consent of the senate (three members of the faculty
or administration of eligible institutions of higher education, three working
in commercial finance, and two members of the general public without a major
financial interest in either higher education or commercial finance); one
member of the Texas Higher Education Coordinating Board appointed by the chair
of that board; one post-secondary student named by the Texas Commissioner of
Higher Education; and the Texas Comptroller of Public Accounts as an ex-officio
member.

In 1989 (House Bill 715, 71st Texas Legislature, Regular Session) the
board was reorganized to consist of 10 members: nine governor appointees (five
from the finance industry, three higher education faculty or administators, and
one full-time student), plus the comptroller. In 2003 (Senate Bill 287, 78th
Texas Legislature, Regular Session) the number of finance industry
representatives was reduced to four, for a total of nine members. And in 2005
(House Bill 2274, 79th Texas Legislature, Regular Session) the number of
finance industry representatives was raised again to five, and the number of
faculty/administator members raised to four, for a total of 11 once again.
Appointed members serve six-year terms.

The Texas Guaranteed Student Loan Corporation administers the
Guaranteed Student Loan Program (later known as the Federal Family Education
Loan Program) by guaranteeing repayment of student loans to private lenders in
the event a borrower dies, becomes permanently and totally disabled, has a loan
discharged in bankruptcy, or defaults; and by checking student loan
applications for eligibility, monitoring loan status, paying claims to lenders
if necessary, conducting compliance reviews of schools participating in the
program, and sharing information about the program with students and schools.
These functions are documented in the records. These records include minutes,
supporting documentation (quarterly reports, correspondence, memoranda,
budgets, investment schedules, committee reports, policies, press releases,
printed materials, etc.), brochures, memoranda, conference programs, an
organization chart, and a telephone directory. They comprise records of the
Texas Guaranteed Student Loan Corporation, especially minutes and supporting
documentation, but also other records, dating 1980-1999.

To prepare this inventory, the described materials were cursorily
reviewed to delineate series, to confirm the accuracy of contents lists, to
provide an estimate of dates covered, and to determine record types.

Arrangement of the Records

These records have been arranged by State Archives staff by type of
record. Minutes come first, arranged chronologically (except for the first
bound volume, which is in reverse chronological order). Other records are next,
each type of record within that group arranged chronologically.

Restrictions on Access

Because of the possibility that portions of these records fall under
Public Information Act exceptions including, but not limited to, social
security numbers (V.T.C.A., Government Code, Section 552.147), and personal
family information of government employees and officials (V.T.C.A., Government
Code, Section 552.117), an archivist must review these records before they can
be accessed for research. The records may be requested for research under the
provisions of the Public Information Act (V.T.C.A., Government Code, Chapter
552). The researcher may request an interview with an archivist or submit a
request by mail (Texas State Library and Archives Commission, P. O. Box 12927,
Austin, TX 78711), fax (512-463-5436), email (Dir_Lib@tsl.state.tx.us), or see
our web page
(http://www.tsl.state.tx.us/agency/customer/pia.html).
Include enough description and detail about the information requested to enable
the archivist to accurately identify and locate the information. If our review
reveals information that may be excepted by the Public Information Act, we are
obligated to seek an open records decision from the Attorney General on whether
the records can be released. The Public Information Act allows the Archives ten
working days after receiving a request to make this determination. The Attorney
General has 45 working days to render a decision. Alternately, the Archives can
inform you of the nature of the potentially excepted information and if you
agree, that information can be redacted or removed and you can access the
remainder of the records.

Materials do not circulate, but may be used in the State Archives
search room (Room 100). Materials will be retrieved from and returned to
storage areas by staff members.

Restrictions on Use

Most records created by Texas state agencies are not copyrighted and
may be freely used in any way. State records also include materials received
by, not created by, state agencies. Copyright remains with the creator. The
researcher is responsible for complying with U.S. Copyright Law (Title 17
U.S.C.).

These records were transferred to the Archives and Information
Services Division of the Texas State Library and Archives Commission by the
Texas Legislative Reference Library on on May 29, 1998; August 18, 2004; and
January 26, 2006.